Small-sized RO developer to raise EUR 3 mln with 3-yr EUR bonds

Romanian real estate developer QUALIS Properties, active in the residential segment in Brasov, wants to raise EUR 3 million with three-year bonds, Ziarul Financiar reported.

The company is ready to pay a 9% annual coupon.

The bonds will be issued in a private placement intermediated by BRK Financial Group (BRK).

The developer has investment projects worth EUR 10 million, including the purchase of land for residential properties.

QUALIS started its first residential project (Qualis I) in 2017, with 170 housing units delivered between 2018 and 2020.

The company has decided to expand the residential complex with 276 apartments and 1,000 sqm of commercial space in the coming years.

It has 2.7 hectares of land for this, and the project will be fully completed by 2023.

The market value of the entire project is estimated at EUR 30 mln.

The second project, Qualis II -located in the same part of Brasov - totals 298 residential units and 1,500 sqm of commercial spaces. It is at an advanced stage, both in terms of sales and construction.

The market value of the project is EUR 24 mln.

(Photo: Maximusnd/ Dreamstime)